Sage Therapeutics (NASDAQ:SAGE) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research note released on Wednesday morning,Benzinga reports.

Several other research firms have also issued reports on SAGE. Scotiabank dropped their price objective on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Bank of America dropped their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Wedbush reduced their price target on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Truist Financial dropped their target price on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, Oppenheimer reduced their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.83.

Sage Therapeutics Trading Up 6.6 %

Shares of SAGE stock opened at $5.17 on Wednesday. The firm’s fifty day moving average price is $6.70 and its two-hundred day moving average price is $9.05. The firm has a market capitalization of $316.25 million, a P/E ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. During the same quarter in the prior year, the company earned ($2.81) EPS. The company’s revenue for the quarter was up 337.1% on a year-over-year basis. As a group, equities research analysts forecast that Sage Therapeutics will post -6.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Sage Therapeutics by 69.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after purchasing an additional 333,805 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after buying an additional 432,013 shares during the last quarter. Virtu Financial LLC acquired a new stake in Sage Therapeutics in the first quarter valued at about $187,000. Bellevue Group AG grew its position in Sage Therapeutics by 27.1% in the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after acquiring an additional 952,193 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Sage Therapeutics during the second quarter worth about $7,281,000. 99.22% of the stock is currently owned by institutional investors.

About Sage Therapeutics

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.